Key "take-aways" about the Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) included the following in July 2023: Closed home sales decreased in July after four consecutive months of increases. By the same token, closed sales in July were second highest in 2023. The list to sale price ratio still at over 100% at 100.06%. Median sale price increased 2.5% from June and 18.6% year-over-year. Average sale price declined 5.2% month-over-month … (22 comments)
Millbridge home sales held their own in Quarter 2-2023 both year-over-year and quarter-over-quarter. Compared with the Second Quarter 2022, average sale price was flat, while the median sale price declined by 3%. Quarter-over-quarter, average sale priced increased by $56,000. Median sale price increased by $38,000. Year-over-year, the list to sale price ratio declined by 1%, but it was still just over 100%. The list to sale price ratio improved by 3.16% from the First Quarter 2023. Days on market were 18 and essentially flat quarter-over-quarter, which saw 19 days on market. … (16 comments)
Weddington Chase home sale values increased in Quarter 2-2023 year-over-year. The two homes that sold in the Second Quarter 2022 sold at 108.25% of list price and as quickly as they were listed. Limited inventory is without doubt keeping home prices high and day on market low. Just three homes sold in the first six months of 2023.
After seeing NO sales in Quarter 1-2023, Quellin had three sales in the Second Quarter 2023. The three sales were half that of sales in the same quarter one year ago. The list to sale price ratio was just under 100% and home sold quickly -- in just 5 days on average. Both average and median sale prices declined year-over-year but they were considerably higher than the prices we saw in the Fourth Quarter 2022 when there were sales in … (18 comments)
Key "take-aways" about the Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) included the following in May 2023: Closed home sales increased for a third consecutive month and were at their highest level of closed sales since September 2022. The list to sale price ratio was just under 101% at 100.72%. Median sale price declined slightly from April 2023 (most likely due to price mix of homes for sale), but increased … (14 comments)
Key "take-aways" about the Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) included the following in April 2023: Closed home sales were at their highest level since September 2022. The list to sale price ratio was just under 100% at 99.72%. Both average and median sale prices increased month-over-month and year-over-year. Average days on market were at their lowest since September 2022, decreasing 15 days to 26 days in April. … (28 comments)
Key "take-aways" about the Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington)--included the following in February 2023: Both average and median home sale prices increased year-over-year and month-over-month. The list to sale price ratio held its own month-over-month, but decreased year-over-year. Average days on market increased both year-over-year and month-over-month. Closed sales in February 2023 were at the lowest level in three years. Housing inventory was down from January 2023, … (22 comments)
Millbridge home sales remained robust throughout 2022 with both average and median sale prices increasing for the year ended December 31, 2022. What softening we saw in 2022 was a 1% decrease in the list to sales price ratio and an increase in average days on market to 17 days. Home sales were down 30%, but much of that is attributable to the fact that new construction has wound down considerably since 2021 as the neighborhood nears completion.
Much of the softening we saw in the Millbridge market not surprisingly came about in Quarter … (26 comments)
Home sale prices increased in Quellin throughout 2022, ending the year with a 14% increase. Average sale prices decreased 4% in Quarter 4-2022, while median sale prices increased 1%. Market shift was noticeable in the list to sale price ratio, which was almost 104% in 2022, but had dropped to 98.1% in the Fourth Quarter. Average days on market decreased both year-over-year and in the Fourth Quarter.
QUELLIN HOME SALES SNAPSHOT: 2022
QUELLIN HOME SALES SNAPHOT: QUARTER 4 - 2022
MEDIAN SALE PRICE TRENDS FOR HOMES IN QUELLIN (12 Month Rolling Average)
To track sales in Quellin "real time," … (16 comments)
Home sale prices "soared" in Cureton in both the Fourth Quarter 2022 and throughout 2022. For the year ended, December 31, 2022 average home sale prices increased 23%; median home sale prices increased 26%. In the Fourth Quarter 2022, average sale prices increased 41%; median home sale prices increased 58%.
To the extent we saw a softening in Cureton's home sales, it was in days on market which increased year-over-year and quarter-over-quarter. In the Fourth Quarter average days on market increased from 22 to 28 days.
Cureton also saw a softening in the list to … (12 comments)
It was a strong showing for Lawson homes both in the Fourth Quarter 2022 and throughout 2022. Home sale prices increased year-over-year and quarter-over-quarter. To the extent the Lawson market shifted, it was in higher days on market, which increased to 31 days by the Fourth Quarter, and a lower list to sale price ratio, which was just under 100% in the Fourth Quarter.
Inventory remained tight in Lawson throughout 2022 and was down year-over-year. Just 50 homes sold in 2022 out of 600+ homes in the neighborhood. No doubt, this accounts for sale … (20 comments)
Chase saw a definite softening in its home sales numbers in the Fourth Quarter 2022, both year-over-year and quarter-over-quarter. In the Fourth Quarter only average sale prices improved slightly (+2%) compared with the same quarter one year ago. Median sale prices, the list to sale price ratio, and average days on market all showed a negative trend. Compared with the Third Quarter 2022, the Fourth Quarter also had a negative shift, with both average and median home sale prices lower, list to sale price ratio down about 3.5%. and days on market … (22 comments)
After softening somewhat in the Third Quarter of 2022, Somerset home prices rebounded in the Fourth Quarter of 2022. However, the list to sale price ratio decreased 3.89% quarter-over-quarter and days on market increased seven days quarter-over-quarter. 2022, as a whole, was a strong year for Somerset home sales, with home prices up year-over-year and the list to sale price ratio holding steady at 105.25%. While days on market increased, at 13 days, homes still sold relatively quickly throughout the year.
The Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) saw a 2.5% increase in average home prices and a 6.5% increase in median home prices, year-over-year. Home sale prices also increased month-over-month. Median home prices in Weddington and Marvin, which had exceeded $1 million in the prior four months, dropped below $1 million in November, but rebounded back to over $1 million in Weddington in December.
Waxhaw | Weddington | Marvin areas in Union County in the Charlotte region remained hot in 2022, especially luxury home neighborhoods. 10 neighborhoods in the Waxhaw area were especially hot in 2022 and are worth watching in 2023 for continued demand.
Five neighborhoods on the 2022 list have been "hot neighborhoods" for six consecutive years now -- Millbridge, Lawson, Cureton, Hunter Oaks, Providence Downs. One neighborhood made the 2022 hot neighborhoods list for a third consecutive year -- Somerset. Weddington Chase has now made the list for … (24 comments)
The Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) saw a 4.8% increase in average home prices and a 3.3% decrease in median home prices, year-over-year. Median home prices in Weddington and Marvin, which had exceeded $1 million in the prior four months, dropped below $1 million in November. Clearly, the market is softening in the Waxhaw area.
Average days on market increased increased by one day to 36 days year-over-year. … (18 comments)
The Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code – encompassing the three towns of Waxhaw, Marvin and Weddington) saw a 56+% increase in average home prices and a 31+% increase in median home prices, year-over-year. Median home prices in Weddington and Marvin exceeded $1 million in October 2022, as they have in the prior three months. However, in both Weddington and Marvin, home sale prices were lower than in September 2022.
Average days on market increased were flat … (8 comments)
Nine homes sold in Hunter Oaks in Quarter 3 - 2022, six fewer homes than sold in quarter three one year ago and one fewer than in Quarter 2 - 2022. Hunter Oaks had 11 new home listings in the Third Quarter 2022, equaling what we saw in the same quarter one year ago, and two fewer new listings quarter-over quarter. The biggest shift in the Hunter Oaks neighborhood in the Quarter 3 - 2022 was in the average days on market and in the list to sale price rations compared … (26 comments)
In Quarter 3 - 2022, three homes sold in the Somerset neighborhood, seven fewer than in the same quarter of the previous year and 10 fewer than in Quarter 2 - 2022. . New listings decreased by three year-over-year from eight homes to five homes in the Third Quarter 2022. New listings decreased by eight from 13 in the Second Quarter 2022. Higher days on market year-over-year and quarter over quarter signaled a shift in the market, as did the lower list to sale price ratios in Quarter 3 - 2022.
17 homes sold in Lawson during Quarter 3 - 2022, equal to the 17 homes that sold in the same quarter one year ago and one more than the 16 that sold in Quarter 2 - 2022. New listings increased by two year-over-year to 20 and by one quarter-over-quarter. We saw a shift in Lawson home sales to more days on market and while home prices appreciated year-over-year, they appreciated at a much lower rate than what we've seen in the past couple of years. Quarter-over-quarter, home sale prices decreased as … (26 comments)
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